Goldman Sachs and BNY Mellon Partner to Tokenize $7 Trillion Money Market Funds on Blockchain

Goldman Sachs and BNY Mellon are bridging traditional finance with digital asset infrastructure through a landmark collaboration. The initiative leverages Goldman's GS DAP® private blockchain to create mirrored tokenized records of customer ownership in select money market funds (MMFs). This marks the first U.S. implementation of blockchain-based mirrored tokenization for MMFs.

The rollout includes heavyweight asset managers like BlackRock, Fidelity Investments, and Goldman Sachs Asset Management. Investors gain streamlined subscription and redemption capabilities via BNY Mellon's liquidity management platform, now integrated with its digital assets division. The mirror tokens enhance accessibility without replacing official records—positioning them as a complementary LAYER for digitized finance.

This model pioneers new utility for MMFs through blockchain, signaling accelerated institutional adoption of tokenization. The $7 trillion money market sector now stands at the convergence of legacy systems and distributed ledger innovation.